The International Accounting Standards Board (the Board) expects that the ITG will have between 14 and 18 members. The Board will assign Board members to attend ITG meetings, one of whom will be the Chair of the group.

The ITG will include representatives from preparers of financial statements, auditors and regulators.

The Board may, at its discretion, invite individual(s) or representative(s) of an organisation to attend and participate in a specific meeting in which their contribution is considered to be useful to the topic under discussion. In this capacity, they participate in the ITG discussions on the same basis as members.  The ITG is intended to have a limited life, but should a need to replace or expand membership of the ITG arise, the Board will consider nominations, including self-nominations, and select members, following a call for candidates on the IFRS Foundation’s website.

Members are appointed in an individual capacity and at meetings or conference calls members are expected to express their individual views, unless it is explicitly stated that they are the opinions of the organisations they represent.

Members are expected to make reasonable efforts to attend all meetings, conference calls and to read the preparatory papers. Because members serve in a personal capacity, substitutions are not accepted.  The Board reserves the right to ask members to resign where it is considered that a member does not contribute actively to the objectives of the ITG.    

Operating procedures

The ITG will initially convene following the final issuance of IFRS 9 (2014). The Board expects that the ITG will have two to three face to face meetings in a year, depending upon the volume and complexity of the issues raised and the expected duration of these meetings is one day. Additional meetings and/or conference calls may be scheduled or meetings may be shortened or cancelled. The primary activities of the ITG are planned to occur before the impairment requirements take effect in 2018.

All meetings of the ITG will be in public and Board members, directors and staff, ITG members and invited official observers may sit at the table and participate in the discussion.  Any other individuals or members of the public may register as observers in advance of the meeting.  Observer registration details will be available on the IFRS Foundation’s website in advance of future meeting dates.

Meetings will be held in London and conducted in English.  In line with the IFRS Foundation’s usual policy, members of the ITG will serve on a voluntary, unpaid basis. Travel and accommodation costs of attending the meetings shall be borne by the members attending the meeting. Members are recommended to attend all meetings in person.  If attendance in person is not possible, members may attend using teleconferencing, videoconferencing or any other electronic means.
Any stakeholder can submit a potential implementation issue for discussion at ITG meetings, based on issue submission guidelines. The IASB staff will evaluate each submission, prioritise the issues for discussion at an ITG meeting and set the meeting agendas.

Supporting papers for the meetings will be prepared by the IASB’s staff, ITG members or invited individuals or organisations.  The agenda and supporting papers will be circulated in advance in order to ensure that ITG members are fully prepared and capable of actively and constructively participating in all of the ITG’s discussions. In addition, meeting agenda and supporting papers will be posted on the IFRS Foundation’s ‘Meetings’ webpage in advance of each meeting.

Administrative support for the meetings, as well as maintaining the minutes, is the responsibility of designated members of the IASB staff. 

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